hey i was wandering if anyone can give me some input.

if i were to sell $2,500 in mutual funds would i have to claim that as an income and pay taxes on it? Even if i already have paid taxes on the entire fund and its realized gains?

basically what i want to know is, do i have to claim sold shares as income?

any info welcomed


Thanks

 

Yes, you would have to include that as part of your income. If you have elected to pay taxes on it when you sold it, IRS will calculate any over/under payment. You should have received a form along with all your w-2s and fill out another form along with your 1040.